Tips for traders and investors in the Indian Stock Markets for July 2 2014.

The bulls have taken over for an immediate term and the nifty seems to be headed for new highs. That being said, the benchmark index must trade above the 7640 mark for the bulls to take it higher.

Intra-day traders may go long if the Nifty trades above 7640 mark with stop loss at 7626 and book profits successively at 7650 and 7680. However, if the benchmark index trades below 7625, then they may short the Nifty with stop loss at 7636 to cover shorts at around 7618 and 7602.

The short-term traders may add to their long positions in case of weakness with stop loss at 7545. They may also consider going long on Tata Motors with stop loss at 440 and L&T with stop loss at 1716.

Mid-term investors may consider buying Coal India at 380.70.

(Feel free to write to us for our free advice regarding the stocks which you already hold in your portfolio. Kindly send the quantity and price at which you bought them. Much better, subscribe by email. It is free. And, what is more, we do not disclose your IDs or portfolio.)

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by  this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.